Shoppers Stop spikes over 13% on IDFC mutual fund stake buying
Posted By: Religare
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Shares of retail stores operator Shoppers Stop rallied over 13 per cent in early trade on Bombay Stock Exchange (BSE) after the IDFC Mutual Fund bought around one million shares of the company for Rs 32 crore through open market transaction.
Cheering the news, shares of company gained as much as 13.54 per cent to trade at Rs 365.05 a piece on the BSE.
In a similar fashion, shares of the company advanced 9.11 per cent to Rs 350.50 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 20,773.21, up 238.30 points or 1.16 per cent at 10:00 hours.